Cyient’s largest acquisition puts spotlight on buyouts by mid-sized IT companies to boost revenue

IT shopping bills

These acquisitions have taken the shopping bills of the country’s 15 largest IT services companies to $5 billion since April last year. Coforge, Persistent Systems, Hexaware, Firstsource and Sasken ended last year with $1.87 billion, $1.65 billion, $1.54 billion, $1.08 billion, and $126 million in revenue, up 29%, 17.4%, 7.6%, 14.6%, and 93%, respectively.